ASEAN Markets may trade flat today after mixed results on Wall St. The market fell on the news of the Fed buying $600B in bonds but recovered late in the day.

The measure will add significant pressure to ASEAN currencies today and for the balance of the year.

The Federal Reserve will buy an additional $US600 billion of Treasuries through June, expanding record stimulus and risking its credibility in a bid to reduce unemployment and avert deflation.

Policy makers, who said new purchases will be about $US75 billion a month, "will adjust the program as needed to best foster maximum employment and price stability," the Fed's Open Market Committee said in a statement in Washington. The central bank kept its pledge to keep interest rates low for an "extended period."

Dow Jones

11,215.13 +26.41 (0.24%)

S&P 500

1,197.96 +4.39 (0.37%)

Nasdaq

2,540.27 +6.75 (0.27%)

In Singapore the shares closed 0.61 per cent higher, with the benchmark Straits Times Index at 3224.97, up 0.61 per cent, or 19.69 points.

Ebeling Heffernan Strong Buys, commodity firms Noble Group and Olam International gained over 1.5 percent as investors turned bullish on the commodity sector, driven by expectations they will benefit from traditionally strong year-end demand.

The other Ebeling Heffernan Strong Buy Neptune Orient Lines , the world’s sixth-largest container shipping firm, surged 5 percent on hopes it will benefit from a rise in shipping volume ahead of the year-end holiday season. Read the Research Report.

Around 2 billion shares exchanged hands.

Gainers beat losers 322 to 161.

In Manila the Philippine Stock Exchange index added 40.12 points or 0.92 percent to end at 4,381.86.

Since the start of this year, the PSEi has gained 1,329.18 points or 43.5 percent.

The day’s rally was led by the mining/oil, financial and property counters, which surged 2.1 percent, 2 percent and 1.7 percent, respectively.

Value turnover amounted to P5.76 billion. There were 87 gainers as against 52 decliners and 38 unchanged stocks. There was still minimal net foreign buying worth P85 million.

“The performance of our local equities market continues to mirror strong investor confidence as evidenced by our ranking among Asian markets. The attractive market valuations also help set the tone for more capital-raising activities,” PSE president Val Antonio Suarez said.

Market breadth was positive with 503 gainers as compared to 280 losers.

The Stock Exchange of Thailand (SET) composite index on Wednesday gained 8.62 points or 0.86 per cent to close at 1,014.20 points. The market value was 50.90 billion baht, with 5.00 billion shares traded.